The dollar inched broadly higher in cautious trade on Monday and held near 150 yen as traders looked to a policy decision by the Bank of Japan later in the...
FILE PHOTO: Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustrationSINGAPORE - The dollar inched broadly higher in cautious trade on Monday and held near 150 yen as traders looked to a policy decision by the Bank of Japan later in the week, alongside other major central bank meetings and a slew of economic data releases globally.
"It's definitely a busy week," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. A recent surge in global interest rates has heightened pressure on the BOJ to change its bond yield control, as speculation mounts that the dovish central bank could hike its existing yield cap at this week's meeting.
The Australian and New Zealand dollars nudged higher after having slid to fresh 2023 lows last week, with the Aussie last 0.19% up at $0.6346.Over the weekend, Israel signalled intent to encircle Gaza's main city, publishing pictures of battle tanks on the Palestinian enclave's western coast as conflict in the Middle East raged."The geopolitical backdrop in the Middle East remains a dominant market consideration," said Chris Weston, head of research at Pepperstone.
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